NEW YORK - Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB), a commercial-stage biopharmaceutical firm, is set to present preclinical data on their novel cancer treatment technology at the Society of Nuclear Medicine & Molecular Imaging (SNMMI) Annual Meeting in Toronto, Canada. The study, involving a bispecific fusion protein known as GD2-SADA, aims to advance the diagnosis and treatment of GD2-expressing tumors.
The GD2-SADA technology is a component of the company's broader Pretargeted Radioimmunotherapy Platform (PRIT), which employs a two-step approach to target solid tumors. The data being presented will showcase the high-affinity binding interactions between the GD2-SADA protein and lanthanides, metals that have diagnostic and therapeutic applications in medicine.
Dr. Johannes Nagel, the lead author of the study, expressed confidence in the preclinical findings, stating that they bolster the potential clinical utility of GD2-SADA. The company is progressing with Phase 1 clinical development based on the cumulative preclinical data.
This technology was developed by researchers at Memorial Sloan Kettering Cancer Center (MSK), including Dr. Nai-Kong V. Cheung, and has been exclusively licensed to Y-mAbs. MSK and Dr. Cheung hold financial interests in the technology and Y-mAbs due to this licensing arrangement.
Y-mAbs' product pipeline includes DANYELZA® (naxitamab-gqgk), the first FDA-approved treatment for certain high-risk neuroblastoma cases. GD2-SADA PRIT, specifically with Lutetium 177-DOTA, is currently under investigation in a clinical trial involving adults and adolescents.
The information presented in this article is based on a press release statement from Y-mAbs Therapeutics, Inc.
In other recent news, Y-mAbs Therapeutics reported mixed results for Q1, with an 11% increase in net sales of their product DANYELZA in the U.S., totaling $18.6 million. However, the company's global net product sales saw a 4% decline, falling to $19.4 million due to reduced international demand. Despite this, Y-mAbs remains confident in its full-year DANYELZA net product sales guidance of $95 million to $100 million.
Operational costs have been effectively managed, with selling, general, and administrative expenses decreasing slightly. However, the company reported a net loss of $6.6 million, and anticipates a cash burn for the full year. Y-mAbs is progressing with the development of its SADA PRIT radio-immune therapy platform, aiming to improve cancer treatment options. In other developments, Y-mAbs recently appointed Dr. Norman LaFrance as Chief Development Officer, a move expected to advance its work in cancer treatment technologies.
InvestingPro Insights
As Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB) showcases their innovative cancer treatment technology, investors and stakeholders are closely monitoring the company's financial metrics and market performance. According to InvestingPro data, Y-mAbs holds a market capitalization of 540.2 million USD, reflecting investor valuation of the company's potential. Despite the challenges of profitability, with a reported negative P/E ratio of -24.93 for the last twelve months as of Q1 2024, the company maintains a strong balance sheet, holding more cash than debt.
One of the most striking financial aspects of Y-mAbs is its impressive gross profit margin of 86.41% over the same period, signaling efficient management and a potentially sustainable business model as it continues to develop and commercialize its technologies. However, the company's revenue growth has seen a slight quarterly decrease of -1.58% in Q1 2024, indicating the need for careful monitoring of sales trends moving forward.
Investors are also looking at the company's stock performance with interest. Despite a significant price drop of -28.47% over the last month, Y-mAbs has experienced a large price uptick of 79.71% over the last six months and an impressive year-to-date total return of 80.5%. These InvestingPro Tips highlight the volatile nature of biopharmaceutical investments, while also acknowledging the company's recent gains.
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